Live Breaking News & Updates on Or Which Company Is Planning To Utilise Around Rs 1909 24 Lakhs Out Of The Rights Issue Proceeds Additionally

Navi Mumbai (Maharashtra) [India], August 29 (ANI/PRNewswire): Tembo Global Industries Limited ("Tembo" or "the Company"), manufacturer of Pipe Support System having a global presence, is opening its Rights Issue for subscription of its shareholders. The issue opens on August 22, 2022 and closes on September 5, 2022. The Company is raising Rs 3616.56 Lakhs through the Rights Issue to fund its working capital requirements and repayment of its certain outstanding borrowings. Equity Shares under the Rights Issue are offered at a price of Rs 100 per Share (including premium of Rs 90 per share) i.e. 20 per cent discount to the closing share price of Rs 125 per share on August 18, 2022 on NSE. Online Trading of the Rights Entitlements allotted to eligible shareholders is available on NSE between August 22, 2022 and August 29, 2022. Commenting on the development, Sanjay Jashbhai Patel, Managing Director, Tembo Global Industries Limited, said, "Tembo is India's hub ....

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